Some acquisitions make sense for the long term and are about more than just profits. I used to work for LSS Data Systems and have now been working for MEDITECH for almost 10 years. I love my job and am so thankful that these two companies came together.
Pushed out the door both times. Only the guy at the top makes out in these deals. Both times the IT systems were quickly replaced by inferior systems to be part of the “corporate standard”.
Although I exchanged my VP/CIO title for Director, I was very pleased to be invited to the party at the acquiring health system, and have been given great opportunities to lead strategically important projects and manage and grow excellent teams of professionals.
On average it was absolutely a huge mess, but I have to admit it was a blessing for me - it finally made them sunset the incredibly broken product and disorganized process work I was on!
too soon to tell, ask me again in a 6-12 months
I was merged & acquired 4 times over the course of 10 years at the same PM/EHR vendor. It got to the point where you could predict the next transaction - layoffs to polish the balance sheet, a period of no long-range decisions being made and then - voila - new ownership. The worst part was that each successive acquirer had not a clue about how our market works, which required those of us that remained to painstakingly explain the realities of the healthcare marketplace. "What do you mean all EHRs don't talk to one another?" "Why would a doctor want to dictate instead of do data entry". Didn't seem it at the time but it was, in retrospect, liberating to finally be restructured out of my job.
I've been through a couple of those and looking back what strikes me most is remembering the smug faces who later were left in the same boat when they got kicked to the curb. It's a powerful lesson, right? Be careful, you might be the next guy looking for a new job. My companies were acquired by equity firms who could care less about anything other than the bottom line. Those in charge just seemed to move from town to town. It was all such a contrast to my former hospital where the CEO valued family values and people bringing new ideas and taking risks. Ahhhh, those were the days!
Absolutely dreadful , awful
Still have PTSD from the experience
I regret being doctor since then and I could write a book about it ...
Awful is an understatement
Lots more responsibility and more fun!